Svmuureports that on May 19, Japan's Financial Services Agency (FSA) published the revised "Cabinet Office Ordinance on Electronic Payment Means and Related Business Operators," which explicitly recognizes trust beneficiary rights established under foreign laws deemed equivalent to Japan's legal framework as electronic payment means under the Payment Services Act. This provides a legal basis for the compliant circulation of specific trust-type stablecoins issued overseas within Japan. The new regulation will take effect on June 1, 2026, and also clarifies that the relevant foreign trust beneficiary rights will not be considered securities under the Financial Instruments and Exchange Act.